Exactly why a legal household (family, single, etc) living in a home 35% or more of the year should be taxed at a lesser rate and anyone 'investing' in rentals of any sort (not living there themselves) should be _punishingly_ taxed.
The reality is a society isn't richer just because people own home.
I much rather live in a society with low ownership rates and good zoning and land use policies. Then in a society with high ownership rates and bad zoning and land use policy.
It seems to me the US argues way to much about home ownership and not enough about zoning and land use.
The reality of the tax system is that current single family homes are ALWAYS massively undertaxed. Strontowns has lots of data on that. What you are suggesting would make this issue even worse because multi-family homes are often by institutional investors too.
A land-value tax, a fee based service cost (block based) and much higher cost for the highway. Plus of course changes in the insane zoning laws. Are real solutions to real problems.
Land value tax pushes speculators and people with empty properties or under-used property.
People who live in subburb don't lose on a land value tax based system.
“Replace” seems to indicate that a tax can go away.
if I have a cottage in the next state, when I file and if I have to pay, does that go to the other state?
I had a actual country in mind, where tax are collected on a national level. ( note my use of national, not federal )
I get your question and it’s a valid one. Sorry to be grumpy.
I’m just tired of “state” being a constant push back to every single topic. I think it was a powerful idea to quickly implement the take over of the continent, but the usefulness might start to stretch.
At which point they raise the rent to cover those taxes, thus the people punished are the renters. Mostly people who already can't to afford to buy or the transaction costs of buying and then selling again short-term. That would be a very regressive tax.
And on top of that, it discourages developing rentals and making them available, even further exacerbating the housing supply problems and making life more difficult for less-wealthy people (or really anyone who is not a homeowner).
Why is it that people don’t seem to grasp this?
Agree with the first, not the second. It not only disincentivises development, it also promotes in-the-family cronyism that corrodes the connection between legal ownership and control. A tax differential which feeds a resident-owner subsidy is more than enough.
Some people are all about that.
I'm a ( relatively new ) US citizen and I'm all about that type of taxes. I've seen what taxes can do in other part of the word, and that my go-to solution for all issue in this country. Redistribution.
Pretty sure my enthusiasm will be tempered with time :)
More seriously, highly touristy place impacted by AirBB landlord snatching the whole housing market would be receptive, too.